Rakuten Investment Management Inc. Makes New $491,000 Investment in Regions Financial Corporation $RF

Rakuten Investment Management Inc. bought a new stake in shares of Regions Financial Corporation (NYSE:RF) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,638 shares of the bank’s stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in Regions Financial during the second quarter valued at approximately $25,000. CVA Family Office LLC boosted its holdings in Regions Financial by 163.2% in the 2nd quarter. CVA Family Office LLC now owns 1,058 shares of the bank’s stock valued at $25,000 after purchasing an additional 656 shares during the period. American National Bank & Trust grew its position in shares of Regions Financial by 2,433.3% during the 2nd quarter. American National Bank & Trust now owns 1,064 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,022 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of Regions Financial in the third quarter worth $32,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Regions Financial in the second quarter worth $30,000. 79.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $31.00 target price on shares of Regions Financial in a research report on Tuesday, January 20th. Truist Financial boosted their price objective on Regions Financial from $26.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Wall Street Zen cut shares of Regions Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Piper Sandler lifted their target price on shares of Regions Financial from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, TD Cowen reissued a “buy” rating on shares of Regions Financial in a research note on Tuesday, October 21st. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.27.

Regions Financial Stock Down 2.8%

Shares of RF opened at $27.49 on Monday. The firm has a market cap of $24.10 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.98 and a beta of 1.03. The stock has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $26.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.80 and a quick ratio of 0.80. Regions Financial Corporation has a 1 year low of $17.74 and a 1 year high of $29.25.

Regions Financial (NYSE:RF) last posted its quarterly earnings results on Friday, January 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Regions Financial had a return on equity of 12.55% and a net margin of 22.44%.The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business posted $0.56 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 10th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Regions Financial Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.